2023 Q1

Greater Vancouver ICI Land Sales Market Report

Klein | Reports | 2023 - Q1 Commercial ICI Land Market Report
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Sources: Real Estate Board of Greater Vancouver, Commercial Edge; Canadian Real Estate Association, MLS®; Altus Group; Statistics Canada; Landcor; RealNet.

Disclaimer: Data has been obtained from sources considered to be reliable. However, no representation or warranty, expressed or implied, is made as to the accuracy of any of the information, projections or conclusions contained  herein, and the same is submitted subject to errors and omissions, without any obligation to update or correct.

Highlights

How ICI Land properties have responded to the market.

100
2023 Q1 Sales Transactions
$110B
2023 Q1 Sales Volume
440

Largest Market Share - City

2023 Q1

Greater Vancouver Overview

Total Sales & Transaction Volume
20192020202120222023 (Q1)
Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%Sales$ Volume%
Burnaby6$ 40,183,6009%5$ 16,105,0003%7$ 81,840,0009%6$ 73,940,00011%1$ 24,310,00031%
Coquitlam4$ 11,827,0003%6$ 101,005,00017%5$ 81,705,0009%8$ 44,752,0007%2$ 7,386,6209%
New Westminster5$ 12,415,0003%0$ 00%1$ 5,000,0001%0$ 00%0$ 00%
North Vancouver2$ 13,150,0003%1$ 58,550,75810%1$ 2,450,0000%1$ 9,100,0001%0$ 00%
Port Coquitlam5$ 87,840,00020%5$ 29,865,6005%2$ 24,330,0003%5$ 23,750,0003%0$ 00%
Port Moody4$ 16,174,7004%1$ 2,750,0000%2$ 1,880,0000%0$ 00%0$ 00%
Richmond19$ 120,677,80027%16$ 64,275,88811%26$ 112,844,61012%25$ 317,893,13947%4$ 34,738,00044%
Vancouver11$ 140,261,90032%16$ 324,544,29754%24$ 626,157,49667%11$ 212,160,00031%2$ 11,750,00015%
Total56$ 442,530,000100%50$ 597,096,543100%68$ 936,207,106100%56$ 681,595,139100%9$ 78,184,620100%
2019
Burnaby6$ 40,183,6009%
Coquitlam4$ 11,827,0003%
New Westminster5$ 12,415,0003%
North Vancouver2$ 13,150,0003%
Port Coquitlam5$ 87,840,00020%
Port Moody4$ 16,174,7004%
Richmond19$ 120,677,80027%
Vancouver11$ 140,261,90032%
Total56$ 442,530,000100%
2020
Burnaby5$ 16,105,0003%
Coquitlam6$ 101,005,00017%
New Westminster0$ 00%
North Vancouver1$ 58,550,75810%
Port Coquitlam5$ 29,865,6005%
Port Moody1$ 2,750,0000%
Richmond16$ 64,275,88811%
Vancouver16$ 324,544,29754%
Total50$ 597,096,543100%
2021
Burnaby7$ 81,840,0009%
Coquitlam5$ 81,705,0009%
New Westminster1$ 5,000,0001%
North Vancouver1$ 2,450,0000%
Port Coquitlam2$ 24,330,0003%
Port Moody2$ 1,880,0000%
Richmond26$ 112,844,61012%
Vancouver24$ 626,157,49667%
Total68$ 936,207,106100%
2022
Burnaby6$ 73,940,00011%
Coquitlam8$ 44,752,0007%
New Westminster0$ 00%
North Vancouver1$ 9,100,0001%
Port Coquitlam5$ 23,750,0003%
Port Moody0$ 00%
Richmond25$ 317,893,13947%
Vancouver11$ 212,160,00031%
Total56$ 681,595,139100%
2023 (Q1)
Burnaby1$ 24,310,00031%
Coquitlam2$ 7,386,6209%
New Westminster0$ 00%
North Vancouver0$ 00%
Port Coquitlam0$ 00%
Port Moody0$ 00%
Richmond4$ 34,738,00044%
Vancouver2$ 11,750,00015%
Total9$ 78,184,620100%
$ Volume And Number Of Transactions
Date$ VolumeSales
2019
Qtr18790550011
Qtr217851470020
Qtr38710270015
Qtr48900710010
2020
Qtr118017644417
Qtr2412219050122
Qtr3159685270.551
Qtr4203720211.2213
2021
Qtr118045800016
Qtr215696000015
Qtr325873688819
Qtr4340052218.4318
2022
Qtr130936200016
Qtr27888500010
Qtr3163063569.1815
Qtr413028457015
2023
Qtr1781846209
ICI Land Market Share

2023 Q1

Burnaby ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
3267 Norland Avenue$ 24,310,0002.2$ 10,955,025
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1224956003
Qtr231500001
Qtr3133500001
Qtr411880001
202000
Qtr127950002
Qtr238800001
Qtr382000001
Qtr400
202100
Qtr100
Qtr200
Qtr300
Qtr400
202200
Qtr1492000003
Qtr200
Qtr300
Qtr4247400003
202300
Qtr1243100001
Grand Total15330860017
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInstitutionalOtherGrand Total
2019000000
Qtr107000000.001581069.9609080459.7717661529.73
Qtr2000000.00
Qtr3022820512.8200022820512.82
Qtr4000000.00
2020000000
Qtr12472972.9700010994152.0513467125.02
Qtr200025526315.79025526315.79
Qtr3005631868.00005631868.00
Qtr4000000.00
2021000000
Qtr1000000.00
Qtr2000000.00
Qtr3000000.00
Qtr4000000.00
2022000000
Qtr1007986281.67007986281.67
Qtr2000000.00
Qtr3000000.00
Qtr40007344380.0007344380.00
2023000000
Qtr10010955025.000010955025.00
Grand Total2472972.9729820512.8226154244.6332870695.7920074611.82111393038.03

2023 Q1

Coquitlam ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
3025 & 3029 Glen Drive$ 5,958,4800.3-
938 Westwood Street$ 1,428,1400.1-
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr248980002
Qtr349040001
Qtr420250001
202000
Qtr166050003
Qtr2910000002
Qtr300
Qtr400
202100
Qtr100
Qtr2115250001
Qtr3491800003
Qtr4210000001
202200
Qtr157600002
Qtr2586500006
Qtr363100002
Qtr493920003
202300
Qtr173866202
Grand Total27863562029
Price/Acre (Avg)
Row LabelsAgriculturalIndustrialInfrastructureParkForeign InvestorGovernmentGrand Total
20190000000
Qtr10000000.00
Qtr20000000.00
Qtr30000000.00
Qtr400050625.000050625.00
20200000000
Qtr1492341.000738540.000001230881.00
Qtr200003082038.007095159.0010177197.00
Qtr30000000.00
Qtr40000000.00
20210000000
Qtr10000000.00
Qtr20000000.00
Qtr3650970.004737475.0000005388445.00
Qtr403107428.0000003107428.00
20220000000
Qtr10000000.00
Qtr2299699.506932471.0000007232170.50
Qtr300019006024.000019006024.00
Qtr4555556.0000000555556.00
20230000000
Qtr10000000.00
Grand Total1998566.5014777374.00738540.0019056649.003082038.007095159.0046748326.50

2023 Q1

New Westminster ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q1---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr217500001
Qtr395150003
Qtr411500001
202000
Qtr100
Qtr200
Qtr300
Qtr400
202100
Qtr100
Qtr250000001
Qtr300
Qtr400
202200
Qtr100
Qtr200
Qtr300
Qtr400
202300
Qtr100
Grand Total174150006
Price/Acre (Avg)
Row LabelsCommercialInfrastructureInstitutionalParkOtherGrand Total
2019000000
Qtr1000000.00
Qtr2007510729.61007510729.61
Qtr3025586956.52004839357.4330426313.95
Qtr40005750000.0005750000.00
2020000000
Qtr1000000.00
Qtr2000000.00
Qtr3000000.00
Qtr4000000.00
2021000000
Qtr1000000.00
Qtr2000000.00
Qtr3000000.00
Qtr4000000.00
2022000000
Qtr1000000.00
Qtr22134927.0000002134927.00
Qtr3000000.00
Qtr4000000.00
2023000000
Qtr1000000.00
Grand Total2134927.0025586956.527510729.615750000.004839357.4345821970.57

2023 Q1

North Vancouver ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q1---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr111500001
Qtr2120000001
Qtr300
Qtr400
202000
Qtr1585507581
Qtr200
Qtr300
Qtr400
202100
Qtr100
Qtr200
Qtr324500001
Qtr400
202200
Qtr100
Qtr200
Qtr391000001
Qtr400
202300
Qtr100
Grand Total832507585
Price/Acre (Avg)
Row LabelsIndustrialInstitutionalRecreationGrand Total
20190000
Qtr106353591.1606353591.16
Qtr211718750.000011718750.00
Qtr30000.00
Qtr40000.00
20200000
Qtr10048555.5948555.59
Qtr20000.00
Qtr30000.00
Qtr40000.00
20210000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20220000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20230000
Qtr10000.00
Grand Total11718750.006353591.1648555.5918120896.75

2023 Q1

Port Coquitlam ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q1---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr2620500003
Qtr3220000001
Qtr437900001
202000
Qtr1104000001
Qtr227000001
Qtr300
Qtr4140656002
202100
Qtr100
Qtr218300001
Qtr3225000001
Qtr400
202200
Qtr1140500002
Qtr200
Qtr397000003
Qtr400
202300
Qtr100
Grand Total16308560016
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInstitutionalGrand Total
201900000
Qtr100000.00
Qtr2697115.0002129119.5002826234.50
Qtr3002272727.0002272727.00
Qtr4783058.00000783058.00
202000000
Qtr1003172666.0003172666.00
Qtr20009310344.839310344.83
Qtr300000.00
Qtr4001379133.0001379133.00
202100000
Qtr100000.00
Qtr2349437.00000349437.00
Qtr302592763.00002592763.00
Qtr400000.00
202200000
Qtr11163985.0002130000.0003293985.00
Qtr200000.00
Qtr3464053.50000464053.50
Qtr400000.00
202300000
Qtr10010955025.00010955025.00
Grand Total3457648.502592763.0022038670.509310344.8337399426.83

2023 Q1

Port Moody ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
No Transactions in 2023 - Q1---
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr100
Qtr2104000002
Qtr357747002
Qtr400
202000
Qtr127500001
Qtr200
Qtr300
Qtr400
202100
Qtr118800002
Qtr200
Qtr300
Qtr400
202200
Qtr100
Qtr200
Qtr300
Qtr400
202300
Qtr100
Grand Total208047007
Price/Acre (Avg)
Row LabelsCommercialIndustrialParkGrand Total
20190000
Qtr10000.00
Qtr209848484.853900000.0013748484.85
Qtr34616304.3514228723.40018845027.75
Qtr40000.00
20200000
Qtr14486133.77004486133.77
Qtr20000.00
Qtr30000.00
Qtr40000.00
20210000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20220000
Qtr10000.00
Qtr20000.00
Qtr30000.00
Qtr40000.00
20230000
Qtr10000.00
Grand Total9102438.1224077208.253900000.0037079646.37

2023 Q1

Richmond ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
2660 Simpson Road$ 13,700,0001.6$ 8,782,052
9100-9120 Bridgeport Road$ 11,238,0000.8$ 13,960,248
12951 Rice Mill Road$ 6,000,00011.1$ 538,600
10471 Palmberg Road$ 3,800,0002.4$ 1,576,763
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1148099004
Qtr2450928006
Qtr3126090005
Qtr4481661004
202000
Qtr1126510005
Qtr288350002
Qtr3167498885
Qtr4260400004
202100
Qtr1275780006
Qtr2330300007
Qtr3185688886
Qtr4336677227
202200
Qtr11068820005
Qtr2495600007
Qtr369548569.186
Qtr4919025707
202300
Qtr1347380004
Grand Total650429437.1890
Price/Acre (Avg)
Row LabelsAgriculturalAgricultural BusinessCommercialIndustrialGrand Total
201900000
Qtr16192545.87472049.6912049689.444872563.7223586848.72
Qtr22864687.5707734193.511940035.2712538916.35
Qtr31238647.41016347419.83017586067.25
Qtr42005773.51002859862.194865635.71
202000000
Qtr1328016.18203802.373923076.924476661.338931556.80
Qtr2555000.00003663845.004218845.00
Qtr3732695.00743767.00001476462.00
Qtr41127931.00654000.0004356846.006138777.00
202100000
Qtr100000.00
Qtr200000.00
Qtr31106815.000001106815.00
Qtr4832683.33389243.5005388889.006610815.83
202200000
Qtr1695200.00005611136.006306336.00
Qtr21174447.001977728.00003152175.00
Qtr3459182.75005551443.006010625.75
Qtr4490269.00509771.0009623431.0010623471.00
202300000
Qtr11576763.00008782051.0010358814.00
Grand Total21380656.624950361.5640054379.7157126763.51123512161.40

2023 Q1

Vancouver ICI Land Sales

Sales & Price By Neighbourhood
Transaction NamePrice Size (Acre)Price/Acre
41 West Pender Street$ 9,500,0000.1$ 68,840,581
99 Victoria Drive$ 2,250,0000.1$ 24,999,999
$ Volume And Number Of Transactions
Row LabelsDollar VolumeTransactions
201900
Qtr1494500003
Qtr2391739004
Qtr3189500002
Qtr4140000001
202000
Qtr1864246864
Qtr2217000003
Qtr3574350004
Qtr4158984611.225
202100
Qtr11510000008
Qtr2819750005
Qtr31640880007
Qtr4230344496.435
202200
Qtr11363500005
Qtr200
Qtr3715600004
Qtr442500002
202300
Qtr1117500002
Grand Total1297435693.6564
Price/Acre (Avg)
Row LabelsAgriculturalCommercialIndustrialInfrastructureOfficeParkGovernmentLong TermGrand Total
2019000000000
Qtr1037998174.5600000037998174.56
Qtr2036015923.5921075135.140017119565.220074210623.95
Qtr30016943521.590037432432.430054375954.03
Qtr400100719424.4600000100719424.46
2020000000000
Qtr1091665104.48076923076.9245883221.26000214471402.66
Qtr200003191057.0003191057.0006382114.00
Qtr3000000000.00
Qtr4009138291.67000009138291.67
2021000000000
Qtr1035941476.0000000035941476.00
Qtr2000000000.00
Qtr37737931.0000055876102.0000063614033.00
Qtr40012178485.500000012178485.50
2022000000000
Qtr13756574.0000000069589422.0073345996.00
Qtr2000000000.00
Qtr30012092732.0012273254.00000024365986.00
Qtr4000000000.00
2023000000000
Qtr1000000000.00
Grand Total11494505.00201620678.63172147590.3689196330.92104950380.26000706741961.82

ICI Land Specialists


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